Latest news with #SouthernStar
West Australian
21-07-2025
- Business
- West Australian
Great Southern sells mining licence in $9 million WA gold belt deal
Gold explorer Great Southern Mining has locked in a blockbuster $9 million deal with heavyweight Regis Resources to sell its Southern Star mining licence in Western Australia's Duketon Greenstone Belt while forging a strategic alliance to unlock the region's untapped riches. The deal sees Regis take full control of the mining licence hosting the Southern Star gold prospect, which is just 3.5 kilometres south of the company's operating 390,000 gold ounce Ben Hur open pit. Regis has forked out an upfront $4 million payment in cash, with up to $5 million more on the table, depending on future gold price movements and resource milestones. It's not hard to see why. Drilling at Southern Star has previously returned some hefty hits, including 68 metres at 1.9 grams per tonne (g/t) gold from 61m and 59m at 2.1g/t gold from 53m, proving the prospect's potential to deliver near-surface ounces. The transaction is structured across three stages - the $4 million upfront payment is just a starter. Stage two includes a further $3 million in cash pegged to gold price levels when mining begins, ranging from $1 million at a $4000 per ounce gold price to a full $3 million if the price stays above $5000 per ounce. With the gold price currently trading at $5157 per ounce, Great Southern could well be in for the full payout. Stage three unlocks an additional $2 million if Regis declares a JORC-compliant reserve greater than 150,000 ounces of gold at the Southern Star prospect. There is more in play than cash in the new deal. Regis has also picked up a first right of refusal on any defined mineral resources up to 1 million gold-equivalent ounces across the remaining 98 per cent of Great Southern's granted tenements in the belt, which span a further 421 square kilometres. To further sweeten the trade, both parties have inked a data sharing alliance aimed at fast-tracking discoveries across Great Southern's grounds, one of WA's hottest greenstone belts. The company plans to use Regis's cash injection to hit the ground hard. Great Southern's Duketon tenure covers major strike lengths across three mineralised corridors with significant exploration upside potential. These include 8km of the Erlistoun Trend, 7km along the Garden Well Trend and 11km between Regis' Rosemont and Ben Hur deposits. All tenements are close to Regis' 10 million tonne per annum processing facilities at Garden Well, Moolart Well and Rosemont. Meanwhile, Great Southern is set to kick off what may be its most exciting drilling campaign yet at its Leichhardt Creek prospect, which is part of the company's flagship Edinburgh gold and copper project in North Queensland. The upcoming program will mark the first time deep diamond drilling has targeted this area, where the company suspects a major porphyry or intrusion-related gold system may lie hidden. The company has partnered with global mining powerhouse Gold Fields Limited, which can earn a 75 per cent stake by investing $15 million over six years. The pair plan to sink three holes up to 800m deep to test two compelling induced polarisation anomalies and uncover the geological truth below. If the drill bit hits its mark, a significant discovery could be just around the corner. With Regis holding the keys to processing and Great Southern holding the frontier land at Duketon, the strategic alignment may set the stage for the next multi-million-ounce discovery in the hugely endowed greenstone belt. The region already hosts the massive Gold Fields-owned Granny Smith gold mine, 40km south, and the Ashanti Gold-owned Sunrise Dam gold operations, just a little further south. Great Southern's balance sheet just got $4 million stronger, its focus is now sharper and with gold trading at record highs, the company looks cashed up and ready to chase its next big score. Is your ASX-listed company doing something interesting? Contact:
The Age
21-07-2025
- Business
- The Age
Great Southern sells mining licence in $9 million WA gold belt deal
Gold explorer Great Southern Mining has locked in a blockbuster $9 million deal with heavyweight Regis Resources to sell its Southern Star mining licence in Western Australia's Duketon Greenstone Belt while forging a strategic alliance to unlock the region's untapped riches. The deal sees Regis take full control of the mining licence hosting the Southern Star gold prospect, which is just 3.5 kilometres south of the company's operating 390,000 gold-ounce Ben Hur open pit. Regis has forked out an upfront $4 million payment in cash, with up to $5 million more on the table, depending on future gold price movements and resource milestones. It's not hard to see why. Drilling at Southern Star has previously returned some hefty hits, including 68 metres at 1.9 grams per tonne (g/t) gold from 61m and 59m at 2.1g/t gold from 53m, proving the prospect's potential to deliver near-surface ounces. 'This transaction is beneficial for both Great Southern Mining and Regis.' Great Southern Mining managing director Matthew Keane The transaction is structured across three stages - the $4 million upfront payment is just a starter. Stage two includes a further $3 million in cash pegged to gold price levels when mining begins, ranging from $1 million at a $4000 per ounce gold price to a full $3 million if the price stays above $5000 per ounce. With the gold price currently trading at $5157 per ounce, Great Southern could well be in for the full payout. Stage three unlocks an additional $2 million if Regis declares a JORC-compliant reserve greater than 150,000 ounces of gold at the Southern Star prospect. Great Southern Mining managing director Matthew Keane said: 'This transaction is beneficial for both Great Southern Mining and Regis. It delivers a strong capital boost to fund aggressive exploration across GSN's highly prospective Duketon tenure, most of which remains underexplored. Meanwhile, Regis is perfectly positioned to leverage the near-term development upside from Southern Star. It's a deal that creates immediate value and sets the stage for new discoveries in the Duketon Belt.'
Sydney Morning Herald
21-07-2025
- Business
- Sydney Morning Herald
Great Southern sells mining licence in $9 million WA gold belt deal
Gold explorer Great Southern Mining has locked in a blockbuster $9 million deal with heavyweight Regis Resources to sell its Southern Star mining licence in Western Australia's Duketon Greenstone Belt while forging a strategic alliance to unlock the region's untapped riches. The deal sees Regis take full control of the mining licence hosting the Southern Star gold prospect, which is just 3.5 kilometres south of the company's operating 390,000 gold-ounce Ben Hur open pit. Regis has forked out an upfront $4 million payment in cash, with up to $5 million more on the table, depending on future gold price movements and resource milestones. It's not hard to see why. Drilling at Southern Star has previously returned some hefty hits, including 68 metres at 1.9 grams per tonne (g/t) gold from 61m and 59m at 2.1g/t gold from 53m, proving the prospect's potential to deliver near-surface ounces. 'This transaction is beneficial for both Great Southern Mining and Regis.' Great Southern Mining managing director Matthew Keane The transaction is structured across three stages - the $4 million upfront payment is just a starter. Stage two includes a further $3 million in cash pegged to gold price levels when mining begins, ranging from $1 million at a $4000 per ounce gold price to a full $3 million if the price stays above $5000 per ounce. With the gold price currently trading at $5157 per ounce, Great Southern could well be in for the full payout. Stage three unlocks an additional $2 million if Regis declares a JORC-compliant reserve greater than 150,000 ounces of gold at the Southern Star prospect. Great Southern Mining managing director Matthew Keane said: 'This transaction is beneficial for both Great Southern Mining and Regis. It delivers a strong capital boost to fund aggressive exploration across GSN's highly prospective Duketon tenure, most of which remains underexplored. Meanwhile, Regis is perfectly positioned to leverage the near-term development upside from Southern Star. It's a deal that creates immediate value and sets the stage for new discoveries in the Duketon Belt.'
Irish Times
20-07-2025
- Irish Times
Farmer found dead on Cork road lost his home in fire recently
A 77-year-old retired farmer who lost all of his possessions following a house fire two months ago was found dead on a road in Bandon, Co Cork on Saturday morning. Gardaí in the town are investigating the circumstances surrounding the death of Gus Dempsey. They were alerted after the pensioner was found unresponsive in the Kildarra area of Bandon shortly after 6.30am yesterday. He was pronounced dead at the scene a short time later. The coroner has been notified and the deceased has since been removed to the mortuary at Cork University Hospital. A postmortem examination will determine the course of the garda investigation. However, foul play is not suspected. Mr Dempsey, who was a bachelor, lost his home in Horsehill, Ballinadee near Bandon on May 5th after a blaze broke out on-site. READ MORE He stayed with a neighbour following the fire and was also approved for emergency accommodation by Cork County Council. Mr Dempsey was featured in a recent edition of the Southern Star newspaper where he said that he farmed all his life and wanted to stay living in the countryside. He said he was fortunate not to have been home when the fire broke out at his rural property. 'Thank God I was out when the fire took hold but it has left me without anything. All the top floor went. There was smoke and water damage and everything downstairs was destroyed. It is gone. 'I was living there since early 1993 so it was a bit of a shock. I wouldn't wish it on anybody. I had little bits and pieces, mementos inside that were precious. They were lost which is an awful shame. I was very sad about it.' Independent Ireland TD Michael Collins recently raised his plight in the Dáil. While commenting on a housing motion he spoke of the absence of social housing in west Cork and said Mr Dempsey was keen to remain living in a rural community. Meanwhile, gardaí are appealing for witnesses to come forward over his death. In particular, they are seeking information regarding a male observed cycling on roads in the vicinity of Kildarra in the early hours of Saturday morning Additionally, any road users who may have camera footage (including dashcam) and were travelling in the area at the time asked to make it available to investigating officers. Anyone with any information is asked to contact Bandon Garda station on 023 885 2200, the Garda Confidential Line on 1800 666 111, or any Garda station.
Yahoo
23-05-2025
- Business
- Yahoo
Silver Star Properties REIT, Inc. Releases Exclusive Podcast Interview with former General Counsel Adrienne Collins
HOUSTON, May 23, 2025 /PRNewswire/ -- Silver Star Properties REIT, Inc. ("Silver Star" or the "Company"), a self-managed real estate investment trust currently repositioning into the self-storage asset class, is pleased to announce the release of a new episode of its Silver Star Podcast featuring Adrienne Collins, former General Counsel, Chief Compliance Officer, and Corporate Secretary of the Company. The episode, hosted by Gerald W. Haddock, CEO and Executive Chairman, highlights Collins' significant contributions during a pivotal period of restructuring and recovery for the Company. In this interview, Adrienne Collins discusses her crucial role at Silver Star, particularly after the company emerged from bankruptcy. She outlines the significant challenges she faced, including resolving 401(k) issues, dealing with deferred maintenance on real estate assets, and navigating difficult negotiations with lenders. Adrienne shares insights into the company's reputation before and after bankruptcy, her approach to restoring professionalism, and her work to position Silver Star for success in the public markets. Despite facing adversity, she reflects on her efforts to stabilize the company, build relationships with key stakeholders, and tackle complex problems with determination and expertise. The podcast is now available on our website at Transcript of the podcast can be found at Forward-Looking Statements: This press release contains a number of forward-looking statements. Because such statements include a number of risks, uncertainties, and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements, and investors should not place undue reliance on any such statements. Forward-looking statements can often be identified by words such as "continues," "can," expect," "intend," "will," "anticipate," "estimate," "may," "plan," "believe" and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding the Company's search for a new auditor and its hope that a new auditor can be engaged in the near future and that its annual report on Form 10-K can be completed and publicly filed; the continuation of the examination of the current operations of Southern Star; the Company's intent to consider various alternatives, including the possible sale of Southern Star, the sale of specific assets within individual DSTs and dissolution of the respective trusts, and/or the outsourcing of various aspects of Southern Star's operations; the Company's plan to update investors with respect to the status of Southern Star as appropriate; the Company's expectations and beliefs regarding the Hartman litigation; the timing and ultimate resolution of the various litigation, fight for corporate control and other matters involving Hartman; the continued execution of the Company's strategy of pivoting into the self-storage space; the Company's continual evaluation of its legacy assets in order to maximize shareholder value; the Company's policy to not dispose of any asset for less than its maximum determinable value and to maximize earnings and value; the implications to the Company of the assignment of an OTC trading symbol for its common stock; whether the Company may be subject to certain FINRA rules; any actions the Company may need to take to comply with any FINRA rules; the Company's continual evaluation of various options to provide greater shareholder liquidity, including its intention to seek listing of its common stock on a securities exchange or admission to over-the-counter trading, a public offering, a listing of the common stock on an exchange or admission to OTC trading without a public offering, and merger and/or acquisition opportunities; the Company's belief that further legal action could ensue to unwind the issuance of common shares under the Rights Plan if Hartman prevails in his efforts to set aside or invalidate the Rights Plan or to cause the dilutive issuance of additional common shares to Hartman, as well as any further action Hartman may take to prevent other Company shareholders from receiving benefits under the Rights Plan. None of the foregoing are guarantees or assurances of future outcomes or results and all are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this material. Forward-looking statements in this press release speak only as of the date on which such statements were made, and the Company undertakes no obligation to update any such statements that may become untrue because of subsequent events. Such forward-looking statements are subject to the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. 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